Allergan buys rights to Serenity Pharma's nocturia drug for up to $165 million

Allergan says it has entered into a global agreement for the development and commercialization of Serenity Pharmaceuticals' Ser-120, a Phase III investigational drug currently in clinical development for the treatment of nocturia, a common yet often under-diagnosed urological disorder in adults characterized by frequent urination at night time.

Under the terms of the agreement, Allergan receives exclusive worldwide rights to develop, manufacture and commercialize Ser-120. The agreement encompasses all potential indications except primary nocturnal enuresis (pediatric bedwetting). Allergan will make an upfront payment to Serenity of $43 million, potential development and regulatory milestones of up to $122 million, future potential sales milestones, and royalties on worldwide turnover

'There is a significant unmet medical need for the treatment of nocturia, which often affects patients who suffer from urologic conditions such as overactive bladder, benign prostatic hyperplasia and general primary nocturia. With Allergan's strategic focus on establishing a strong urology franchise and its proven track record in pharmaceutical development and commercialization, we are convinced that this will be a successful partnership,' said Samuel Herschkowitz, chief executive of Serenity.